Sammendrag
This study explores the potential of faith-based investment in achieving the United Nations’ Sustainable Development Goals (SDGs) within the Agenda 2030 strategy. Specifically, this thesis examines the constraints of faith-based organizations (FBOs) in promoting environmentally sustainable investment. Greening faith investment is the transitioning of FBOs’ investments from traditional investments aimed at gaining profits to investments in green and environmentally friendly activities and projects, such as renewable energy. Greening faith investment is essential because FBOs are one of the primary stakeholders of the United Nations and among the top investors in the world. It is crucial for UN Environment (formerly named United Nations Environmental Programme, UNEP) to strategically engage with FBOs and mobilize faith leaders and faith communities in an ongoing partnership to jointly contribute to the SDGs and fulfill the objectives of the 2030 Agenda. UN Environment’s Faith for Earth Initiative (F4E) is one of the critical organizations assisting in this goal. The primary method for this thesis is an ethnographic study of how FBOs engage in greening faith investment, with F4E as the main case study. The methods used in this study were primary and secondary research methods, such as desk research, semi-structured qualitative interviews, participatory observation, and case studies. I spent seven months working for F4E as an intern at UN Environment in Nairobi, Kenya between September 2018 and March 2019. One of the tasks was to organize Faith for Earth Dialogue at the 4th Session of UN Environment Assembly in March 2019, making it possible to engage with many potential informants from the UN and various FBOs and gather first-hand data directly. From there, I selected ten key informants, whom I interviewed during the environment assembly. These included government officials, faith leaders, scholars, entrepreneurs and senior UN staff who are experts in their fields and have experience with greening faith investment and/or working with FBOs. The empirical material is analyzed by utilizing sustainable development theory, sustainability transition theory, to investigate how the process of greening faith investment is a part of the greening investment movement. This research contributes to knowledge that would facilitate organizational and management changes for the promotion of green investment among FBOs and individuals with capital. The main findings are: (1) One of the benefits that greening faith investment can contribute to the SDGs is to develop both socially and environmentally responsible investment - such as divestment from the fossil fuel and oil sectors or investment in the renewable energy projects - whilst also taking societal impact into account. (2) Several challenges of greening faith investment are identified - such as investors who lack guidance on green investment, the collaboration gap between the FBOs and individuals with the capital, the limited access to investment information and network knowledge, and FBOs lack of suitable business associates and stakeholders.
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